189 Buffalo St · Hamburg, NY 14075

$315,000

3 bd · 2.0 ba · 2,981 sqft · MultiFamily · 55 Days on market

Built 1940 6,370 sqft lot $106/sqft · 48% below area Est $603k · 48% under

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Why this score? — see what drove the B+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +27.8/30.0
• ARV discount +15.0/15.0
• DSCR +9.8/10.0
• 1% rule +7.6/10.0
• Schools +4.9/10.0
• Livability +4.2/5.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Prime Mixed-Use Investment Opportunity in the Village of Hamburg. This well positioned mixed-use property features two commercial units and one residential apartment, offering a strong blend of income and stability. The first-floor commercial spaces are currently occupied by a dog grooming business and a retail boutique, both benefiting from excellent street visibility and consistent local traffic. The upper unit consists of a residential apartment, providing additional steady rental income. Situated in the heart of the Village of Hamburg, this property is surrounded by established businesses, restaurants, and neighborhood amenities, making it an attractive location for both commercial tenants and residents alike. Ideal for investors seeking a mixed-use asset in a highly desirable south towns location.

Key facts

• Retail boutique
• Commercial units
• Mixed-use property

Tags

• MIXED-USE PROPERTY
• COMMERCIAL UNITS
• RESIDENTIAL APARTMENT
• FIRST-FLOOR COMMERCIAL SPACES
• DOG GROOMING BUSINESS
• RETAIL BOUTIQUE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $315k.

Deal economics

• At list price, monthly cash flow is $959 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $315k).
• Recommended offer: $306k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.9% vs local median 2.4% in Hamburg — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 84/100 on livability (#43 in NY, #692 nationally) — a professional / high-income tenant draw. Strengths: schools A+, employment A+, housing A+; Watch: commute F.
• Hamburg Central School District (suburban): math 46% / reading 66% proficiency, ranked #267 of 590 in NY (top 45%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+5.2%/yr); 264 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $3,969/mo this rent would consume 57% of the median local household income ($83k/yr) (locally 824% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 5.2% rent growth), your $88k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($306k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $305,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.26% ✓
• Cap rate: 9.94%
• Cash-on-cash: 13.04%
• DSCR: 1.58
• GRM: 6.6

CMA / ARV

• ARV (median comp): $603,155
• List price: $315,000
• Delta: -47.77%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.21% rent growth · sell at horizon

5-year hold

• IRR: 5.4%
• Equity multiple: 1.22×
• Total profit: $19,091
• Equity at exit: $46,968

10-year hold

• IRR: 16.8%
• Equity multiple: 2.52×
• Total profit: $134,211
• Equity at exit: $27,235

Cash invested: $88,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 15 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City: — inherits STATE

NYC rent stabilization (~1M units); 2019 HSTPA strengthened tenant rights; courts deeply backlogged.

Methodology + full state rankings →

ZIP-level market 14075

• Rents YoY: 5.2%
• Active inventory: 264
• Price-to-rent: 19.8×

Monthly cashflow live

• Estimated rent: $3,969 medium
• Mortgage (P&I): −$1,652
• Tax est. 1.5%: −$394 /mo · $4,725/yr
• Insurance: −$131
• HOA: −$0
• Vacancy / Maint / Mgmt: −$833
• Net cashflow: $959

Break-even live

Break-even rent $2,756

Max offer price $315,000

Occupancy floor 71%

Sensitivity live

Price	-10% $1,176	-5% $1,067	+0% $959	+5% $850	+10% $741
Rent	-10% $645	-5% $802	+0% $959	+5% $1,115	+10% $1,272
Rate	-1.0pp $1,117	-0.5pp $1,039	base $959	+0.5pp $877	+1.0pp $794

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$3,969
Total (3 units)			$3,969

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $78,750
• Closing costs: $9,450
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3752 Hampton Brook Dr Hamburg, NY	3.0	2.5	3032	$3,500	$1.15	45d	1	1.46mi

Listing history 22 events

1. 2026-06-21
   days on market $315,000 Active 55 DOM
2. 2026-06-18
   days on market $315,000 Active 52 DOM
3. 2026-06-17
   days on market $315,000 Active 51 DOM
4. 2026-06-16
   days on market $315,000 Active 50 DOM
5. 2026-06-15
   days on market $315,000 Active 49 DOM
6. 2026-06-13
   days on market $315,000 Active 47 DOM
7. 2026-06-13
   days on market $315,000 Active 46 DOM
8. 2026-06-10
   days on market $315,000 Active 44 DOM
9. 2026-06-09
   days on market $315,000 Active 43 DOM
10. 2026-06-08
    days on market $315,000 Active 42 DOM
11. 2026-06-07
    days on market $315,000 Active 41 DOM
12. 2026-06-05
    days on market $315,000 Active 38 DOM
13. 2026-06-03
    days on market $315,000 Active 37 DOM
14. 2026-06-02
    days on market $315,000 Active 36 DOM
15. 2026-06-01
    days on market $315,000 Active 35 DOM
16. 2026-05-31
    days on market $315,000 Active 34 DOM
17. 2026-04-27
    status Active 813-char remark

    Show marketing remark (813 chars)

    Prime Mixed-Use Investment Opportunity in the Village of Hamburg. This well positioned mixed-use property features two commercial units and one residential apartment, offering a strong blend of income and stability. The first-floor commercial spaces are currently occupied by a dog grooming business and a retail boutique, both benefiting from excellent street visibility and consistent local traffic. The upper unit consists of a residential apartment, providing additional steady rental income. Situated in the heart of the Village of Hamburg, this property is surrounded by established businesses, restaurants, and neighborhood amenities, making it an attractive location for both commercial tenants and residents alike. Ideal for investors seeking a mixed-use asset in a highly desirable south towns location.

18. 2026-04-25
    historical 813-char remark

    Show marketing remark (813 chars)

    Prime Mixed-Use Investment Opportunity in the Village of Hamburg. This well positioned mixed-use property features two commercial units and one residential apartment, offering a strong blend of income and stability. The first-floor commercial spaces are currently occupied by a dog grooming business and a retail boutique, both benefiting from excellent street visibility and consistent local traffic. The upper unit consists of a residential apartment, providing additional steady rental income. Situated in the heart of the Village of Hamburg, this property is surrounded by established businesses, restaurants, and neighborhood amenities, making it an attractive location for both commercial tenants and residents alike. Ideal for investors seeking a mixed-use asset in a highly desirable south towns location.

19. 2026-04-23
    historical 813-char remark

    Show marketing remark (813 chars)

    Prime Mixed-Use Investment Opportunity in the Village of Hamburg. This well positioned mixed-use property features two commercial units and one residential apartment, offering a strong blend of income and stability. The first-floor commercial spaces are currently occupied by a dog grooming business and a retail boutique, both benefiting from excellent street visibility and consistent local traffic. The upper unit consists of a residential apartment, providing additional steady rental income. Situated in the heart of the Village of Hamburg, this property is surrounded by established businesses, restaurants, and neighborhood amenities, making it an attractive location for both commercial tenants and residents alike. Ideal for investors seeking a mixed-use asset in a highly desirable south towns location.

20. 2026-04-23
    historical 813-char remark

    Show marketing remark (813 chars)

    Prime Mixed-Use Investment Opportunity in the Village of Hamburg. This well positioned mixed-use property features two commercial units and one residential apartment, offering a strong blend of income and stability. The first-floor commercial spaces are currently occupied by a dog grooming business and a retail boutique, both benefiting from excellent street visibility and consistent local traffic. The upper unit consists of a residential apartment, providing additional steady rental income. Situated in the heart of the Village of Hamburg, this property is surrounded by established businesses, restaurants, and neighborhood amenities, making it an attractive location for both commercial tenants and residents alike. Ideal for investors seeking a mixed-use asset in a highly desirable south towns location.

21. 2026-04-22
    listed $315,000 Active 813-char remark

    Show marketing remark (813 chars)

    Prime Mixed-Use Investment Opportunity in the Village of Hamburg. This well positioned mixed-use property features two commercial units and one residential apartment, offering a strong blend of income and stability. The first-floor commercial spaces are currently occupied by a dog grooming business and a retail boutique, both benefiting from excellent street visibility and consistent local traffic. The upper unit consists of a residential apartment, providing additional steady rental income. Situated in the heart of the Village of Hamburg, this property is surrounded by established businesses, restaurants, and neighborhood amenities, making it an attractive location for both commercial tenants and residents alike. Ideal for investors seeking a mixed-use asset in a highly desirable south towns location.

22. 2013-04-01
    listed $129,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $47,628
• − Mortgage interest: −$17,645
• − Property taxes: −$4,725
• − Insurance: −$1,575
• − Repairs & maintenance: −$3,810
• − Management: −$3,810
• − Depreciation: −$9,164
• Taxable income: $6,899
• Est. tax owed @ 24.0%: −$1,656
• After-tax cash flow: $9,848/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Hamburg Central School District
• NCES district ID: 3613350
• Math proficiency: 46% ▼ -26.00%
• Reading proficiency: 66% ▲ 3.00%
• Median HH income: $68,342
• Composite: 49.43/100
• National rank: #2006
• State rank: #267 of 590 in NY

Livability — Hamburg

• Score: 84/100
• State rank: #43
• US rank: #692

Category grades

Amenities B Commute F Cost of living B- Crime C Employment A+ Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hamburg, NY
• County: Erie County · 714,559 people
• City population: 44,520
• Metro: Buffalo-Cheektowaga, NY
• Population (ZIP): 44,520
• Household income: $83,383
• Rent vs Own: 26.4% rent · 73.6% own
• Severe rent burden: 824.0

Population outlook (Erie County) Hauer SSP2

• Today (2025): 933,037 people
• By 2030: 935,181 · +0.2%
• By 2040: 928,531 · -0.5%
• By 2050: 905,725 · -2.9%
• By 2075: 834,037 · -10.6%
• By 2100: 708,033 · -24.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 3% Black 1%
• Common ancestry: Romanian 20% Lithuanian 2% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 1%

Political lean MEDSL · Erie

• 2024 margin: Lean D (+9.7) · D 54.8% · R 45.2%
• 2008→2024 swing: -7.9pp toward R · 2008: 17.5pp · 2024: 9.7pp
• All cycles: 2024: D+9.7 2020: D+14.7 2016: D+4.8 2012: D+15.6 2008: D+17.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -261.10%
• Current HPI: 300.2852
• Rent YoY: ▲ 5.21%
• Metro: Buffalo-Cheektowaga, NY
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

+142.5% since first listed

6 events — show timeline

• 2026-04-27 Relisted — WNYREIS
• 2026-04-25 Listing Removed — WNYREIS
• 2026-04-23 Listing Removed — WNYREIS
• 2026-04-23 Listing Removed — WNYREIS
• 2026-04-22 Listed $315,000 WNYREIS
• 2013-04-01 Listed $129,900 WNYREIS